Waste Stocks Rise Amid Uncertainty

Danielle Jackson

New York -- Shares in some waste companies rose on Monday as consumers appeared more confident to re-enter the stock market.

Shares in Scottsdale, Ariz.-based Allied Waste Industries Inc. were up $1.15 to $12.20, about a 10 percent increase. Shares in Houston-based Waste Management Inc. were up $0.91 to $26.46, a 3.56 percent increase.

"People took so much money out of the sector last week, it appears they came back to waste, which is a good place to be in this climate," analyst Amanda Tepper of JP Morgan told Reuters.